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Onn <br />Page 30 <br />reinvested by the Sewer Committee in direct obligations of, or obligations, <br />the principal of and interest on which are unconditionally guaranteed by, the <br />United States Government, which shall mature, or which shall be subject to <br />redemption by the holder thereof at the option of such holder not later than <br />six (6) months after the date of such investment. <br />(b) Moneys held for the credit of the reserve for contingencies <br />in the Sewer Revenue Bond Fund shall be continuously invested and reinvested <br />by the Sewer Committee in direct obligations of, or obligations the principal <br />of and interest on which are unconditionally guaranteed by, the United States <br />Government, which shall mature, or which shall be subject to redemption by <br />the holder thereof, at the option of such holder, not later than five (5) years <br />after the date of such investment. <br />(c) Moneys held for the credit of any other Sewer System Fund may, <br />at the option of the Sewer Committee, be invested and reinvested by the Sewer <br />Committee in direct obligations of, or obligations the principal of and interest <br />'on which, are unconditionally guaranteed by, the United States Government, <br />which shall mature, or which shall be subject to redemption by the holder <br />thereof, at the option of such holder, not later than the date or dates when <br />the moneys held for the credit of the particular fund will be required for the <br />purposes intended. <br />(d) Obligations so purchased as an investment of moneys in any <br />such fund shall be placed in the custody of the City Treasurer and shall be <br />deemed at all times to be a part of such fund and the interest accruing thereon <br />and any profit realized from such investment shall be credited to such fund, <br />and any loss resulting from such investment shall be charged to such fund; <br />provided, however, that if earnings on investments of moneys in the reserve <br />